Ballentine Partners LLC raised its stake in Paramount Global (NASDAQ:PARA – Get Rating) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,058 shares of the company’s stock after acquiring an additional 1,986 shares during the quarter. Ballentine Partners LLC’s holdings in Paramount Global were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of PARA. Allianz Asset Management GmbH bought a new position in Paramount Global in the 3rd quarter worth approximately $1,281,000. South Dakota Investment Council acquired a new position in shares of Paramount Global during the third quarter valued at $367,000. Asset Management One Co. Ltd. bought a new position in Paramount Global in the third quarter valued at about $4,872,000. Versor Investments LP acquired a new stake in Paramount Global in the third quarter worth about $1,850,000. Finally, Seven Eight Capital LP bought a new stake in Paramount Global during the 3rd quarter worth about $858,000. 74.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on PARA shares. Guggenheim lifted their price target on shares of Paramount Global from $20.00 to $22.00 in a research report on Thursday, January 12th. StockNews.com assumed coverage on shares of Paramount Global in a research report on Thursday, March 16th. They set a “sell” rating for the company. Needham & Company LLC increased their price target on shares of Paramount Global from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Rosenblatt Securities reiterated a “sell” rating and set a $13.00 target price on shares of Paramount Global in a report on Wednesday, March 22nd. Finally, Credit Suisse Group upped their price target on shares of Paramount Global from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Eleven investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Paramount Global has a consensus rating of “Hold” and an average price target of $22.45.
Paramount Global Trading Up 3.1 %
Paramount Global (NASDAQ:PARA – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The business had revenue of $8.13 billion during the quarter, compared to analyst estimates of $8.16 billion. Paramount Global had a net margin of 3.66% and a return on equity of 5.03%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. Sell-side analysts forecast that Paramount Global will post 0.65 earnings per share for the current year.
Paramount Global Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Monday, March 20th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, March 17th. Paramount Global’s payout ratio is presently 60.00%.
Paramount Global Profile
Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.
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